Trident Techlabs IPO Allotment Status

Quick take on the IPO of Trident Techlabs Ltd

The stock of Trident Techlabs Ltd has a face value of ₹10 per share and it is a book built issue with the booking price band fixed in the range of ₹33 to ₹35 per share. Being a book built issue, the final IPO price will be discovered within this band. The IPO of Trident Techlabs Ltd has only a fresh issue component and no offer for sale (OFS) portion. As part of the fresh portion of the IPO, Trident Techlabs Ltd will issue a total of 45,80,000 shares (45.80 lakh shares), which at the upper booking building band price of ₹35 per share aggregates to a total fund raising of ₹16.03 crore. Since there is no offer for sale (OFS) portion in the IPO, the fresh issue size will also double up as the overall size of the IPO. 

Hence, the total IPO size will also comprise of the issue of 45,80,000 shares (45.80 lakh shares) which at the upper band price of ₹35 per share will aggregate to overall IPO size of ₹16.03 crore. Like every SME IPO, Trident Techlabs IPO also has a market making portion with a market maker inventory allocation of 3,60,000 shares to Giriraj Stock Broking Private Ltd. The market maker (Giriraj Stock Broking Private Ltd) will provide two-way quotes to ensure liquidity and low basis costs on the stock post listing. Post the IPO, the promoter stake will get diluted from 92.48% to 73.5%. Trident Techlabs Ltd will use the fresh funds for funding the working capital gaps. GYR Capital Advisors Private Ltd will be the lead manager to the issue, and Maashitla Securities Private Ltd will be the registrar to the issue.

Checking allotment status of Trident Techlabs Ltd IPO 

How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status directly on the website of the IPO registrar, Maashitla Securities Private Limited. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Trident Techlabs Ltd on the website of Maashitla Securities Private Ltd (Registrar to IPO)

Visit the Maashitla Securities Private Limited (IPO registrar to Trident Techlabs Ltd) website for IPO status by clicking on the link below:

https://maashitla.com/allotment-status/public-issues

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there is also a way to access this page via the home page of Maashitla Securities Private Ltd by clicking on the “Allotment Status” link displayed prominently on the home page. It all works the same.

This dropdown will show the active IPOs and also the IPOs that are being managed by the registrar but not yet active. However, you can access the online allotment status only after the allotment status is finalized for Trident Techlabs Ltd. At that point, you can go and select the company Trident Techlabs Ltd from the drop down box. The allotment status will be finalized on 27th December 2023, so in this case, you can access the details on the registrar website either late on 27th December 2023 or by middle of 28th December 2023. Once the company is selected from the dropdown box, you have 2 methods to check the allotment status for the IPO of Trident Techlabs Ltd.   

• Firstly, you can query for the application status based on your mapped Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The first 5 characters ad alphabets, sixth to ninth characters are numerical while the last character is once again an alphabet. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Submit Button.

• Secondly, you can also search by Beneficiary ID of your demat account. You have to then enter the combination of the DP id and the Client id as one single string. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. Just enter the combination of DP id and customer id as it is. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Submit Button in both cases.

You can follow any of the options above. The IPO status with number of shares of Trident Techlabs Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 28th December 2023 or after that. These shares would be credited to your demat account under the following details (ISIN - INE0QD201012). 

It must be noted here that, in the past, Maashitla Securities Private Ltd (the registrar to the issue) was also offering the facility to query on allotment status based on application number / CAF number. That has now been discontinued and applicants in the IPO can now only query by either the Income Tax PAN number or the demat account number. The query facility by application number / CAF number is no longer available and therefore the investors can now check the online allotment status only based on the PAN query or the DP account query.

How allocation quota and subscription impact basis of allotment

Here is a quick look at how the allocation was made across different categories of investors. This is the first factor that impacts the investor’s chances of allotment in the IPO.

You can check the number of shares available for your specified quota which gives an idea of the chances of allotment at the outset itself. The response to the IPO of Trident Techlabs Ltd was very strong and it was subscribed 763.30X overall at the close of bidding on 26th December 2023 with the Retail segment seeing 1,059.43 times subscription and the HNI / NII portion seeing 854.37 times subscription. Even the QIB portion saw robust oversubscription of 117.91X in the IPO. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 26th December 2023.

With the IPO closed for subscription at the end of December 26th, 2023, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 27th December 2023 while the refunds would be initiated on 28th December 2023. The shares of Trident Techlabs Ltd (ISIN - INE0QD201012) would be credited to the demat accounts of eligible shareholders by the close of 28th December 2023 while the stock of Trident Techlabs Ltd is expected to be listed on 29th December 2023. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

The NSE SME segment is the place where the start-ups and young companies get listed, as opposed to the regular mainboard segment. The high level of subscription in the IPO reduces the chances of getting allotment in the IPO, but one has to now wait for the basis of allotment to be finalized. Then the above process flow can be used to check the status.